- As this graph shows, the growth in GDP per capita is a relatively recent phenomenon that coincides with the advent of the industrial revolution that began in England in the mid-18th century.
X http:/www.economist.com/blogs/freeexchang - jerrycook1208 - Yahoo Mail @Economic history: What was. X File Edit View Favorites Tools Help A better understanding of economic history might have helped the world avoid the worst of the recent crisis. Free exchange continues its discussion of milestones in economic history, showing how they contributed to the development of economic thought. You can Advertisement read the first entry here. A FEW centuries ago it would have been difficult to tell Europe apart from the rest of the There's opportunity world-in economic terms, at least. Indeed, half a millenium ago Europe might justly have in complexity been considered a laggard. The three inventions which, in the words of Karl Marx, Click to learn more. "ushered in bourgeois society" were not invented in Europe. Gunpowder, the compass and the printing press were probably all invented in China. But by the 19th century, things were rather different. Western Europe and parts of North STATE STREET America had become fabulously wealthy. Almost everywhere else was horribly poor. GLOBAL ADVISORS. Economic historians refer to this as the "Great Divergence". SPDR Advertisement: Replay Ad The Great Divergence KAL draws: Economics A-Z DP per person, 1990 constant $ Video - Britain 25,000 Netherlands Japan 20,000 -India - China 15,000 10,000 00:00 02:06 -5,000 1300 1400 1500 1600 1700 1800 1900 2000 KAL draws KAL draws Source: Maddison Project Trade Taxation The timing of the divergence is hotly debated. Some think that it really took off around 1800. Others reckon that it was earlier. Such debates will probably never be resolved with Follow The Economist much precision, given the unreliability of the evidence. But the question of what caused the divergence might be of more interest. fyin 'to Cultural factors are a popular explanation for European ascendancy Max Weber 12:35 PM Search the web and Windows 5/23/2016X http:/www.economist.com/blogs/freeexchang - jerrycook1208 - Yahoo Mail @Economic history: What was. X File Edit View Favorites Tools Help A better understanding of economic history might have helped the world avoid the worst of the recent crisis. Free exchange continues its discussion of milestones in economic history, showing how they contributed to the development of economic thought. You can Advertisement read the first entry here. A FEW centuries ago it would have been difficult to tell Europe apart from the rest of the There's opportunity world-in economic terms, at least. Indeed, half a millenium ago Europe might justly have in complexity been considered a laggard. The three inventions which, in the words of Karl Marx, Click to learn more. "ushered in bourgeois society" were not invented in Europe. Gunpowder, the compass and the printing press were probably all invented in China. But by the 19th century, things were rather different. Western Europe and parts of North STATE STREET America had become fabulously wealthy. Almost everywhere else was horribly poor. GLOBAL ADVISORS. Economic historians refer to this as the "Great Divergence". SPDR Advertisement: Replay Ad The Great Divergence KAL draws: Economics A-Z DP per person, 1990 constant $ Video - Britain 25,000 Netherlands Japan 20,000 -India - China 15,000 10,000 00:00 02:06 -5,000 1300 1400 1500 1600 1700 1800 1900 2000 KAL draws KAL draws Source: Maddison Project Trade Taxation The timing of the divergence is hotly debated. Some think that it really took off around 1800. Others reckon that it was earlier. Such debates will probably never be resolved with Follow The Economist much precision, given the unreliability of the evidence. But the question of what caused the divergence might be of more interest. fyin 'to Cultural factors are a popular explanation for European ascendancy Max Weber 12:35 PM Search the web and Windows 5/23/2016
